Flood insurance is an important insurance protection that doesn’t receive as much attention as other types of insurance, like homeowners and auto insurance. Because flood policies aren’t discussed as frequently, myths about flood coverage sometimes develop. Here are three common myths about flood policies dispelled for Westfield, MA residents:
Dispelling 3 Incorrect Flood Insurance Myths
Myth 1: Homeowners Insurance Policies Cover Floods
Homeowners sometimes mistakenly think their homeowners insurance policy covers floods. Some homeowners assume their policy covers flooding without actually reading the policy’s terms and conditions, which clearly state what perils are covered by the policy. Others notice that their policy’s paperwork mentions coverage for water damage, and they figure this includes water damage caused by flooding. Most coverage for water damage that homeowners policies offer, however, are for plumbing-related issues -- and they don’t typically extend to floods.
The truth is that few, if any, homeowners insurance policies provide coverage for flooding. It’s simply a peril that these policies aren’t designed to protect against. Massachusetts homeowners who want to insure their property against floods usually have to purchase a separate flood policy.
Myth 2: Flood Insurance Isn’t Available During Floods
There’s a somewhat prevalent misconception that residents in an area can’t purchase flood insurance immediately before, during, or immediately after a flood. While there is a sense in which this is true, it’s technically incorrect.
Most insurers in Massachusetts continue to sell flood policies leading up to, during and immediately after floods. Thus, flood coverage is normally available at any time. In fact, homeowners can often even buy policies when their homes are drowned in several feet of water.
Flood policies, however, frequently have a 30-day waiting period, during which time they don’t provide protection against floods. In other words, most flood policies won’t cover floods until 30 days after they’re bought. Thus, homeowners in Massachusetts who buy flood coverage immediately before, during, or soon after a flood typically remain uncovered for that particular event.
Myth 3: Homes In Westfield, MA Aren’t At Risk of Being Flooded
Frequently, residents of Westfield, MA figure that their homes aren’t at risk of being flooded. After all, the town isn’t anywhere near the ocean, and floods are fairly uncommon in the area.
All homes, however, are at some risk of being flooded regardless of where they are. Some are less likely to be damaged in a flood than others, but they could still be flooded. Guaranteeing that a home will never be flooded requires the ability to predict the future. Even in Massachusetts’ inland towns, there are other bodies of water that can flood and groundwater can swell up.
Homeowners whose homes are at low risk of flooding may still want to procure flood coverage. For, coverage is often quite affordable if a home is in a low-risk area, and the protection could provide tens of thousands of dollars worth of coverage (or even more) if a house ever does flood.
Get the Facts About Flood Policies from an Insurance Agent
To get the facts about flood insurance, talk with an independent insurance agent who serves Westfield, MA. As a professional in the industry, an agent will be able to ensure you have accurate information about flood coverage. As someone who serves the local area, they can help you apply the truth about flood policies and the protections they provide to your particular home and situation.